Hero Technologies Inc (HENC)

[RandyKCMO]

Today’s PR Hero Technologies (HENC) Assesses U.S. Markets to Drive Growth for Cannabis Business

DOVER, DE / ACCESSWIRE / August 16, 2022 / Hero Technologies (OTCQB:HENC; Twitter: @heroicmindtech), a cannabis company focused on a "seed-to-sale" vertical integration strategy, today announced that is has conducted a study of cannabis markets across the United States to assess prospects for future growth.

The company's subsidiary, BlackBox Systems and Technologies LLC, has a pre-qualification license approval in place to produce and market cannabis for both recreational and medicinal use in Michigan. As the company prepares to launch operations in Michigan, it is also looking for near-term and medium-term growth opportunities in other states.

Among states that have legalized both recreational and medicinal use of marijuana, the greatest near-term opportunities are in California, Massachusetts, Colorado, and Illinois. Illinois is not currently accepting cannabis license applications, but the state plans to make 50 new licenses available at the end of 2022. New York, Virginia, and New Jersey also currently have moratoriums on cannabis licenses, but New York and Virginia are still developing their regulatory schemes for adult-use licenses, and New Jersey gives local municipalities some leeway in determining licenses.

Other states where recreational and medicinal use of marijuana is legal, but which are not currently accepting new cannabis license applications, include Arizona, Connecticut, Nevada, Oregon, and Washington.

Among states that have legalized only medicinal use of marijuana, the greatest near-term opportunities are in Alabama, which will begin accepting cannabis license applications on September 1, 2022, and Oklahoma.

Other states where medicinal use of marijuana is legal, but which are not currently accepting new cannabis license applications, include Louisiana, Maryland, Minnesota, Missouri, Ohio, Pennsylvania, and Utah. In addition, North Carolina is actively considering legalization of cannabis for medicinal use, and Florida has decriminalized marijuana.

Gina Serkasevich, Hero Technologies' CEO, said, "As we push to establish and build our cannabis operations in Michigan for short-term growth, we are also keeping a strategic eye on the future for both near-term and medium-term opportunities. Our goal is to be a multi-state grower, processor, and marketer of cannabis products."



https://www.accesswire.com/711928/Hero-Technologies-HENC-Assesses-US-Markets-to-Drive-Growth-for-Cannabis-Business